Member Info for ps200306

Manyana, doing my best to ignore you, though since you insist on this childishness I have and will continue to report your defamatory remarks to the mods.

Regarding your inane remarks about this magical review that has turned Barryroe into a gas field ... what has changed that they didn't know in 2013? I think you'll find the answer is ... nothing.

They don't say how they plan to raise the money for the micro LNG. Other than that, I like the sound of it. SOU needs cashflow.

Zilch so far.

LOL, Manyana. You criticised me for citing your posts from weeks back. Now you've gone through my whole posting history. Who's the obsessive now? Yes, I retired in my forties and no, I've never seen the inside of a dole office in my life. But how utterly typical of you to assume so -- and you wonder why people call you out for unfounded idle speculation. Actually, I was in the same line of business as YOU. Clearly I was much better at it !

Manyana >>> " If people don't like what I write - stop reading."

How about we just keep calling you out on your inanities. If you don't like it, stop writing.

Green shenanigans reported in the Business Post today -- these loons will even target vital gas infrastructure:"The proposed Shannon liquefied natural gas (LNG) import terminal faces a new legal obstacle after a High Court ruling in favour of Friends of the Irish Environment, writes Daniel Murray. The green group has been granted permission to challenge the government-backed decision to include the terminal on the European Projects of Common Interest (PCI) list, which grants it “the most rapid treatment legally possible”. "

LONGWAIT, yes, that was a total finger in the air calculation. It's based on PVR's 80% share. I also have no real idea what the well head price for gas in the Celtic sea would be, so I just had a guess.

Btw, one of the 2012 Barryroe drills tested a so-called "upper gas reservoir". In energy terms, it flowed about equal amounts of oil and gas -- 1350 bbl/day plus 7 MMcf/day (about 1200 bbl equivalent).

Manyana, which bit of "we don't have the money to do a survey" failed to filter through your thick Irish skull? As for that "sweet spot" you conjured up in your fevered imagination, the Barryroe potential consists of multiple strata at different depths, so there is no spot that is connected to all of them. As for that "one great big pool of gas or oil in the middle", that's not how hydrocarbon reservoirs work. The oil is in the rock, not in some big pool that you stick something like a drinking straw into.

My guess is this is greenwashing to start talking about it as a gas discovery. If they have reviewed anything about the field, it *might* have been to look for up dips where gas could have migrated so that the first appraisal well can announce a gas discovery. The analysis so far is that one tenth of the resource by energy is gas, which makes it only one fortieth of the value because of the disparity between oil and gas prices. I don't see how anything could have changed just because we have a new CEO.

And while we're in ****ging mode ... weren't you the one who inferred from some website that PVR got ownership of the APEC percentage back under their control weeks if not months ago? Turns out that hasn't even happened yet according to the RNS.

Talking through your butt as usual, Manyana. "If we can get the survey done before the end of March"??? Are you trippin'? Did you see how long it took to even get a permit for a survey last time? Apart from that, there is the small matter of us not having any money for a survey. We had to send the boat home with the job unfinished last time. We wouldn't have done that if we had the cash to mobilise it again. Absolutely nothing is going to happen between now and the end of March other than they will figure out how to squeeze the pips for more money. And what technology are you talking about proving between now and the end of March? That someone can drive a boat if they get paid?

Nothing has changed, including our state of knowledge of what's buried in Barryroe. I strongly suspect that PVR are merely reacting to the more favorable outlook on gas prospecting on the Irish political scene. "Remember that giant oil field? Well, uh, now it's gas". I don't believe PVR could be permitted to produce gas and not oil. It's never quite one or the other -- oil always contains gas, gas always contains condensates. This is just greenwashing.

Not that we should care. 10% of the energy in Barryroe is in the form of gas, whether dissolved or otherwise. 35 million barrel of oil equivalent equates to 200 Bcf (billion standard cubic foot) of gas. Back of envelope calculation: at €2/Mcf that's worth around €0.50 per share to PVR. I'd happily take that for starters. The gas is only a tenth of the resource, and its worth only a quarter of the energy equivalent of oil, so multiply by forty for the total mid case value.

Of course, this is all pie in the sky. PVR can't afford the company coffee machine beyond the end of next month, let alone pay to extract billions of dollars worth of oil. Those who can't see past the dollar signs in their eyes, take note.

Soundingoff, agreed. SOU could actually put together an exciting program of drilling with the money from this deal. I'm not really thinking beyond the deal itself. If they go into hibernation and just pay out dividends on gas production that's fine by me. If they decide to do more, that's fine too ... as long as it's not gambling on crazy long shots like last time.

Oh, and, the government now _defines_ broadband as being a minimum of 30 Mbps. Which means that the large number of people for whom 10 - 20 Mbps cellular is perfectly adequate and perfectly available are not even counted as having broadband. As I said, go to rural England and tell me about crappy broadband. I know people living within 20 miles of London who can't get anything better than ropy 10 Mbps wired "broadband".

LOL. You imagine the true state of Irish broadband is captured in the Labour party's manifesto? The current government has a plan to spend €2 bn on rural broadband, running fibre up every boreen, and they don't even get to own the network after they have paid for it!!! It's beyond insane. Basically, the politicians are trying to outdo each other in stupidity over something they hope might be a votewinner, so of course Labour is going to have their own version of it. And you accuse ME of mouthing off without thinking? Catch a grip!

And econuttery may be a recent phenomenon but it is real and it is not going away. Anyone who wants to capture the newest generation of voters can't ignore it. The Fianna Fail vote is increasingly the grey brigade. You will find that they will be greenwashing their policies if they want to stay relevant.

>>> "Ireland cannot develop a decent internet system never mind a carbon neutral system."

You either a) live in a British city, b) haven't been back to your rural ancestral homeland lately, c) have an axe to grind, or d) all of the above. Irish rural broadband is incomparably better than the Brit equivalent. Most people can at least get half-decent 3g cellular as a fallback, and there are many local and national providers of cable, fibre, and packet radio. (Source: first hand experience working with a charity that provides supports to isolated rural people).

On the carbon thing, I think you are totally missing the point. Green policies are the topic du jour among the elites. It wins them support among young voters who have been brought up believing that the world is going to burst into flames in 12 years ( -- that is no exaggeration). It doesn't matter that there's a few wizened turf cutters or Healy-Rae gombeens bucking the trend. Econuttery is what wins votes. Remember, a third of the population lives in the capital city, and even more in the surrounding commuter counties.

I also note that, according to the RNS, the exclusivity period was "subject to certain milestones being met, to complete due diligence on the Eastern Morocco Portfolio and to finalise a binding sale and purchase agreement". That means that specific objectives have been achieved all along the way, assuming that the BoD have not been stupid enough to let themselves be strung along. Therefore the deal should be more certain now than it was at the beginning, albeit that "nothing is agreed until everything is agreed".

FWIW, I'm not expecting the SP to flourish in the short term even if the deal is signed. We'll probably see a spike, then most of the people who bought several tens of millions of shares in the last week will dump them and run. If the deal parameters haven't changed SOU will be due a payment of US$30m, which I guess will underpin around the current share price. But then the SP will probably drift as the day traders get bored. It'll be first gas and beyond before anyone really values SOU properly -- which is fine by me as I'm here for however it long it takes.

>>> "If it’s going to happen why would it go to the wire like this?"

Because it's the nature of negotiations to fill up all the time available. Both sides jockey for position until squeaky bum time. Then it's **** or get off the pot. The lawyers' lackeys then have a couple of sleepless nights finalising the legals and everyone signs on the dotted line, followed by breaking open the champers at shareholder expense.

I presume end of exclusivity on 14th is at end of day. Assuming the deal is real and they are doing their damnedest to get a it over the line, I would be horrified if they WEREN'T working the weekend to secure it. So earliest possible news on 17th, I would think.

I believe Manyana is an Irish emigré. I'm not sure I like his suggestion of the Healy-Raes supporting a new government, even to the advantage of Barryroe. That pair of primitives are the farking dregs of Irish gombeen politics. They are know-nothing "cute hoors" with a talent for stroke-pulling, self-aggrandisement, and aggressive manipulation of local politics. You should look at the history of family members being floated unelected into local council seats while the seniors claw their way up the ladder of national politics to replace Jackie, the deceased patriarch of the family. And what a lovely bunch -- two of the young pups, one a councillor, assaulted a British tourist who had just married a local, leaving him scarred and with long-lasting psychological damage. His crime? ... not letting them skip the queue at a chip van when they told him their family owned the town.

https://www.independent.ie/regionals/kerryman/news/healy-rae-brothers-found-guilty-of-assault-38729355.html

Bunch of nasty ****s who will put on a playful gombeen act to entertain the media with their cute "Oirishness". Unfortunately Irish politics promotes these dynastic mafias.

Sucking = ducking. :-/

Trellis, bit weird that. Saw your post noting mine had been deleted, then mine reappeared later. Definitely wasn't me as I was just sucking in briefly from a train .